Why peg prices of new HDB flats to market rates?
By Ng Kok Lim I refer to your letter "Why we peg to market rates" to Today dated 25 Sept 2009. (read letter here) You wrote that the HDB incurred an average deficit of $1,045 million a year on home ownership programmes. However, if we refer to Page120 of HDB's 2008 annual report, $625,102 was spent on "upgrading, improvements...
A reply to Ms Mabel Tan’s letter: “How family’s fortunes have grown over the years”
I refer to the letter "How family's fortunes have grown over the years" by Ms Mabel Tan dated 26 Sept 2009. (read letter here) Ms Tan's bemusement is understandable. She is bemused because she and her family are totally unencumbered by the recent sharp increases in property prices. Like the person watching a fire from the safety...
A letter from Ng Kok Lim: HDB’s affordability benchmark is not reasonable
I refer to the HDB's letter "Within a family's reach" to the Straits Times dated 12 Sept 2009. The HDB claims that one of its key responsibilities is to sustain flat values over the long term. The first of HDB's four mission statements is to "provide affordable homes of quality and value". There is nothing in that statement...
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